Oneida Company's operations began in August. August sales were $180,000 and purchases were $110,000. The beginning cash balance for september is $30,500. Oneida's owner approaches the bank for a $99,000 loan to be made on September 2 and repaid on November 30. The bank's loan officer asks the owner to prepare monthly cash budgets. Its budgeted sales, merchandise purchases, and cash payments for other expenses for the next three months follow. Budgeted Sales Merchandise purchases Cash payments Salaries Rent Insurance Repayment of loan Interest on loan September October $ 220,000 $ 425,000 240,000 November $520,000 210,000 197,000 31,800 31,800 31,800 10,000 10,000 10,000 5,700 5,700 5,700 990 990 99,000 990 All sales are on credit where 74% of credit sales are collected in the month following the sale, and the remaining 26% collected in the second month following the sale. All merchandise is purchased on credit; 84% of the balance is paid in the month following a purchase, and the remaining 16% is paid in the second month. Required: Prepare the following for the months of September, October, and November. 1. Schedule of cash receipts from sales. 2. Schedule of cash payments for direct materials. 3. Cash budget. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the schedule of cash receipts from sales. Sales Cash receipts from: Prior period sales ONEIDA COMPANY Schedule of Cash Receipts from Sales September October November $ 220,000 $ 425,000 $ 520,000 Two periods prior sales Total cash receipts $ 0 $ 0 $ Required 1 Required 2 >